Henry is employed on a salary plus commission basis. His total earnings last month amounted to P9,500.00 of which P5,650 represented his basic monthly salary. If his total sales for the month amounted to P21,000.00, what percent commission did he receive?
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Do you know that banks pay you to let them keep your money? The money you put in the bank is called the principal, P , and the bank pays you interest, I . The interest is computed as a certain percent of the principal; called the rate of interest, r . The rate of interest is usually expressed as a percent per year, and is calculated by using the decimal equivalent of the percent. The variable for time, t, represents the number of years the money is left in the account.
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